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Property profile & analytics
OFF-MARKET
Estimated value
$7,850,000
Apartment buildings
450 Redwood Ave Redwood City, CA 94061-3079
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US09-2261842
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1961
Total area
19,675 SF
Lot
0.82 ac (35,674 SF)
Zoning code
R40000
APN
053-271-550
UPID
US09-2261842
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.85M
CAP Approach
CAP
$8.24M
Comparable Approach
Comparable
$10.63M
Blend (final)
Blend
$7.85M
Owner & transaction history
450 Redwood LLC · 2 yrs held
450 Redwood LLC
since 2024
Last sale
$7.9M
6 recorded transactions
Zoning & alternative use
R40000 · Redwood City, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$10.6M
+48.9%
Commercial (general)
$9.1M
+27.5%
Auto repair, garage
$8.9M
+25.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Redwood City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redwood City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$7,850,000
ML approach
$7,850,000
CAP Approach
CAP Return
Estimation
6%
$8,925,000
6.5%
$8,240,000
7%
$7,650,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$7,130,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$10,615,000
Change: +49% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,095,000
Change: +28% · Conversion: Moderate
AUTO REPAIR, GARAGE
$8,940,000
Change: +25% · Conversion: Difficult
RETAIL STORES
$8,510,000
Change: +19% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,445,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$7.85M
Range $7.07M – $8.64M · ±10% · vs last sale $7.85M (Apr 26 2024)
Last sale anchor
$7.85M
Apr 26 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$399 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$116,411
Tax year 2024
Assessed value
$10,532,489
Assessed 2024
Previous assessed
$10,532,489
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$5,306,040
Assessed improvement
$5,226,449
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1961
Heating
NONE
Stories
2
Units
27
Rooms
82
Bathrooms
3
Total area
19,675 SF
Lot
0.82 ac (35,674 SF)
Zoning code
R40000
APN
053-271-550
UPID
US09-2261842
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
R40000 · Redwood City, CA
Zoning R40000 · permitted uses
R40000 · Redwood City, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Redwood City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$7.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.6M
COMMERCIAL (GENERAL)
Est. value
$9.1M
AUTO REPAIR, GARAGE
Est. value
$8.9M
RETAIL STORES
Est. value
$8.5M
WAREHOUSE, STORAGE
Est. value
$6.4M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1961
Heating
NONE
Stories
2
Units
27
Rooms
82
Bathrooms
3
Lot
0.82 ac
Current owner
From public records · entity-resolved
450 Redwood LLC
Entity
Mailing address
3424 WYNDHAM DR, FREMONT, CA 94536-2454
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2024
—
450 Redwood LLC
—
Deed
related
$5,900,000 · Everbank NA
Apr 26, 2024
$7,850,000
450 Redwood LLC
450 Redwood Owner LLC
Grant Deed
$4,710,000 · Western Adventist Foundation
Jun 30, 2021
$9,925,000
450 Redwood Owner LLC
Joseph F Rodden
Grant Deed
$5,350,000 · Avidbank
Apr 8, 2021
$1,695,000
Joseph F Rodden
Gayle Ann Salter
Grant Deed
$1,100,000 · King& Jensen Trust
Feb 24, 2016
—
King & Jensen Trust
King,harold
Quit Claim Deed
related
—
—
—
Salter Trust
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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